: For long term value I would go with the bathtub liner. I refinish bathtubs as well as install liners. Refinishing is a paint job. The best refinishing job on a metal tub will last 10 to 15 years, then it starts to peel. The bathtub liners I use are 1/4" thick ABS Acrylic and will last a life time. Our liners made to fit the tub they are going into. The manufacture has over 400 molds and can make a liner for all but the oddest bathtub. Installers cut the tub flange to fit the walls and floor not the other way around. Just today I installed a liner where there was only 3" between the tub and the vanity, 1" distance from the tub spout and the tub, and 2" from the tub to the tile soap dish. The acrylic the tub liners are made of is easy to cut and if heated can be bent to form to shapes. If you are looking for a bargain and don't plan to live in your house for long go with the refinishing, otherwise go with the bathtub liner.: P.S. Bathtub liners are not available for fiberglass bathware. In this case you must refinish. Since your puting paint on paint(fiberglass is a painted surface)the refinish job will out last (with correct care) the unit its self.